Indian Agrochemical Sector Seeks Hike in Import Duties

By The Economic Times|17 July 2024

Ahead of the budget, The Economic Times reports India’s agrochemical sector is pushing for an increase in import duties to combat the influx of chemicals from China. Industry experts are advocating for tariffs to level the playing field for domestic players and address the trade deficit. Measures such as a PLI scheme are also being recommended to enhance manufacturing capabilities.

Crop Care Federation of India, which represents key players in the agrochemical sector, has sought an increase in import tariffs, currently at about 7.5%. “The government should raise import tariffs by 7.5% counteracting Chinese predatory pricing and monopolistic practices with targeted tariff,” said Harish Mehta, senior advisor, Crop Care Federation of India, adding that this will safeguard the chemical industry, which is a key contributor to the nation’s GDP and exports.

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The Economic Times is an English-language, Indian daily newspaper headquartered in Mumbai, India at The Times of India building. See all author stories here.

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